MIPTV 2017 Preview: Damian Collier, Founder & CEO, Blend Media
The below is written by Damian Collier, Founder & CEO, Blend Media, and is part of Found Remote's MIPTV 2017 preview series. Found Remote will again be at MIPTV with Applicaster (come say hi at the booth: Palais R7.J15).
I’m thrilled to be moderating a panel session at MIPTV this year where we’ll be debating what’s key to the creation of great VR branded content. VR is certainly a hot topic on the agenda for MIPTV and I’m expecting a sea of virtual reality headsets and associated offerings at the event.
I suspect, however that trepidation will remain amongst buyers, given the relatively small number of headsets currently in the hands of the public. VR is certainly an engaging and immersive format and its potential for future application is immense. Currently, however, it doesn’t deliver at scale and it is therefore extremely difficult to demonstrate effective ROI for brands especially when compared to other more established channels and formats.
What buyers shouldn’t ignore, however, is the fact that audiences are now beginning to expect more interaction with their content, especially their video content. People are becoming more accustomed to watching video that ‘breaks the frame’, allowing them to move their phone or tablet around or swipe and drag with their finger to explore and discover elements of a scene. This 360˚ video experience is becoming more expected and indicates a clear opportunity for brands to take advantage of the benefits of the emerging format.
Facebook already has over one million 360˚ videos on the platform only 16 months after they first began to support it. Clearly we’re at an inflection point for this more immersive video format that can be experienced without the need for a VR headset.
Purists will say that this isn't VR - and they're correct of course. If you're watching a 360˚ video on your smartphone, tablet or laptop, then you aren't virtually somewhere else.
And that's OK. What you are, though, is far more engaged than when watching video within a fixed frame. Countless studies in recent months have found that click-through rates, dwell time and repeat viewership are at an all time high when consuming the new format.
Brands must start looking at 360˚ video not so much as a revolution, but as an evolution of their work with video over the past few years. Whilst the production and post-production techniques differ and require a slightly different workflow and skill set there are many skilled producers globally creating premium work.
At Blend Media we’ve spent the past year building tools that make the creation of 360˚ video content and campaigns quick and easy for brands, publishers and studios. We’re lowering the barriers to entry - with a drag and drop editor, a large catalogue of premium 360˚ video content and distribution solutions - that help to quickly and more easily create engaging formats.
Whilst 360 video may not be virtual reality, it is a reality and needs to be incorporated into marketing plans either replacing or complementing fixed video campaigns.
Collier is moderating a panel at MIPTV, ‘VR Branded Content: Immersion is the New Black’.